In each of the following questions, a sentence is given with a part printed in bold. Choose the option from among the alternatives given that best replaces the bold part to make the sentence grammatically and contextually correct. If the bold part does not require any replacement, choose option (e) No replacement required. The monetary policy committee's unanimous decision to hold the benchmark lending rate unchanged, despite mounting inflationary pressure from compounding supply-side disruptions across global commodity markets, have been widely interpreted as a deliberate signal that the central bank is consciously prioritising growth momentum over immediate price stabilisation in the prevailing macroeconomic cycle.

The bold segment contains a subject-verb agreement error. The true grammatical subject of the main clause is "The monetary policy committee's unanimous decision" — a singular noun phrase governed by the head noun "decision." Despite the intervening plural nouns ("markets," "disruptions"), the verb must agree with this singular head noun. Error: "have been" → plural auxiliary; incorrect for a singular subject. Correct form: "has been" → singular auxiliary matching "decision." Now examining each option: (a) "has widely been interpreted like a deliberate signalling" — corrects "have" to "has" but introduces two new errors: "like" is a preposition inappropriate for introducing a noun clause (should be "as"), and "signalling" (gerund) is contextually imprecise where "signal" (noun) is required. (b) "have widely interpreted as a deliberate signalling" — retains the plural agreement error; also removes the necessary passive construction ("been"), making the subject perform the action of interpreting itself — contextually absurd. (c) "has been widely interpreted as a deliberate signal" — corrects "have" to "has"; retains the correct passive construction "has been interpreted"; retains "as" (correct comparative connector); retains "signal" (correct noun).  (d) "was widely being interpreted as a deliberate signalling" — changes present perfect to past continuous, altering the temporal meaning; "signalling" remains wrong. Hence (c).